Pro Farmer's Daily Advice Monitor

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  • Jan. 21: No changes.
  • Jan. 20: No changes.
  • Jan. 19: No changes.
  • Jan. 18: Extend soybean meal coverage. Details below. 
  • Jan. 14: No changes.

*Note: Check below daily to see if we recommend catch-up sales for individual markets.

Corn

Cash-only marketers

2021 crop: 70% sold 

2022 crop: 20% sold for harvest delivery next year.

Hedgers — cash sales

2021 crop: 70% sold

2022 crop: 20% sold for harvest delivery next year. 

Hedgers — futures/options

No positions

Get current with all advised sales. A push above the December highs would likely trigger additional old-crop sales and we would likely increase new-crop sales at the same time. 

Soybeans

Cash-only marketers

2021 crop: 75% sold 

2022 crop: 20% sold for harvest delivery next year.

Hedgers — cash sales

2021 crop: 85% sold

2022 crop: 20% sold for harvest delivery next year.

Hedgers — futures/options

No positions

Get current with all advised cash sales. We are targeting moves above $14.00 in March futures and $13.25 in November futures to increase sales. With old-crop futures above our target, and new-crop near that level, be prepared to increase sales soon. 

Wheat

Cash-only marketers

2021 crop: 70% sold 

2022 crop: 20% forward sold for harvest delivery next year.

Hedgers — cash sales

2021 crop: 70% sold

2022 crop: 20% forward sold for harvest delivery next year. 

Hedgers — futures/options

20% hedge in short SRW wheat futures at $7.57. 

We intend to use the price recovery to extend 2021- and 2022-crop sales. We want to sell another 10% of 2021-crop and 10% to 15% of expected 2022-crop by the end of January. 

Cotton

Cash-only marketers

2021 crop: 90% sold 

2022 crop: 40% forward sold for harvest delivery next year

Hedgers — cash sales

2021 crop: 100% sold 

2022 crop: 40% forward sold for harvest delivery next year

Hedgers — futures/options

No positions

Get current with advised sales. 

Livestock

Cattle

1st qtr. 2022

0%

2nd qtr. 2022

0%

3rd qtr. 2022

0%

4th qtr. 2022

0%

There's near-term downside risk, but the longer-term price outlook is strong. Our one concern is the impact to demand from record retail prices. 

Hogs

1st qtr. 2022

0%

2nd qtr. 2022

0% 

3rd qtr. 2022

0%

4th qtr. 2022

0%

The cash market and futures should be putting in a seasonal low. Wait on an extended price recovery before hedging.

Feed

Corn

1st qtr. 2022

0%

2nd qtr. 2022

0%

3rd qtr. 2022

0%

4th qtr. 2022

0%

You are hand-to-mouth on corn-for-feed needs. We are targeting the $5.75 area in March corn futures to extend coverage. 

Meal

1st qtr. 2022

33%

2nd qtr. 2022

0%

3rd qtr. 2022

0%

4th qtr. 2022

0%

Our target for extending coverage is a drop to the $385 area in March soymeal futures. 

 

 

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After the Bell | January 21, 2022

Corn futures end week at seven-month high on stronger exports, soybeans slip on profit-taking, hog futures soar.

Cattle on Feed Report: Placements stronger than anticipated

With all three categories coming in on the bearish side of the average pre-report estimates, the report is price-negative.

Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

Ahead of the Open | January 21, 2022

Soybean futures expected lower in correction from rally to seven-month highs, corn and wheat also lower.